Safeguard duty on steel: More than a safety net, but is it enough?

Can the safeguard duty on steel be more than a safety net, and is it enough when other countries are also stepping up to protect their interests?

A surge in cheap imports, coupled with the threat of trade diversion triggered by a global trade war reignited by US President Donald Trump, has prompted the need to safeguard India’s steel interests. Given that steel is the backbone of any economy, the stakes are high. 

So on March 18, the Directorate General of Trade Remedies (DGTR), under the commerce and industry ministry, recommended a provisional 12 per cent safeguard duty on select steel imports for a period of 200 days. 

This came days after the Trump administration had revoked the relaxations on steel imports under Section 232 and reinstated